Wednesday, March 21, 2018
On March 20, 2018, Invest in the USA (IIUSA) issued a statement (https://iiusa.org/blog/iiusa-statement-missed-opportunity/)on the United States EB-5 program’s failure to receive bicameral support and would not be included in the upcoming federal funding bill, which Congress must pass by this Friday March 23. The possible inclusion of program reform and long-term extension in the omnibus bill had brought hopes to the EB-5 industry earlier in March. IIUSA revealed that the proposed reforms did “not gather support from all industry organizations”.
Even though failed to reform program and obtain long-term reauthorization, the draft bill has still included provisions for another temporary EB-5 program extension through September 30, 2018.